Money Research Collective’s editorial team solely created this content. Opinions are their own, but compensation and in-depth research determine where and how companies may appear. Many featured companies advertise with us. How we make money.
11 Best Pet Insurance Companies of 2023
By Joan Pabón MONEY RESEARCH COLLECTIVE
No co-payment
$100-$1,000
70%, 80%, 90%
$2,500 - $20,000, Unlimited
Multi-pet discount
Donates unused premiums to customer-chosen nonprofits
$100, $250, $500
70%, 80%, 90%
$5k-$100k
Policy bundle discount
Covers pets 15 years or over
$100-$1k
70%, 80%, 90%
Up to Unlimited
Diminishing deductible, Multi-pet discount, Military discount, Employee benefits discount
Covers prosthetic devices and wheelchairs
$50, $100, $200, $250, $500, $1K
70%, 80%, 90%
$5k, Unlimited
Multi-pet discount
Pet insurance can cover up to 90% — or more, in rare cases — of your veterinary bills if your pet is injured or becomes ill due to a covered condition.
Pet insurance policies are pretty similar across the industry in the types of conditions they do and don’t cover. For example, no pet insurance policy will cover conditions your pet developed before coverage began — any pre-existing conditions, as they are known.
Nevertheless, there are notable differences regarding coverage limits, deductibles, covered services and premium rates among insurance companies.
The following list can help you compare some of the best pet insurance companies on the market, so you can get the coverage best suited to your pet’s needs and lifestyle. Note that some cat insurance and dog insurance plans are only available in the U.S., and sometimes not in all states and territories. (Likewise, not all are available in Canada.)
Our Top Picks for Best Pet Insurance
- Healthy Paws – Best for Alternative Care
- Spot – Best for Unlimited Coverage
- Figo – Best for Reimbursement Options
- Trupanion – Best for Low or No Deductible
- ASPCA – Best for Genetic Conditions
- Embrace – Best for Diminishing Deductible
- Lemonade – Best Claims Process
- Pets Best – Best for Affordable Premiums
- Nationwide – Best for Industry Experience
- MetLife – Best for High-Deductible Plans
- Banfield – Best for Wellness-Only Plan
Best Pet Insurance Reviews
Best for Alternative Care: Healthy Paws
Why we chose it: Healthy Paws is a pioneer in pet insurance coverage of alternative and holistic therapies. The company includes these benefits as part of its standard pet insurance plans, which cover hydrotherapy, chiropractic medicine, massage and more. In addition, the company doesn’t impose an annual maximum or limit coverage for pets enrolled after a certain age. Its policies are also competitively priced, even if you’re enrolling young pets.
- Includes coverage for alternative and holistic care
- No annual, per-incident or lifetime payout caps
- Covers hereditary/genetic conditions
- Offers direct payment option
- No coverage for hip dysplasia for dogs enrolled after age six
- Limited coverage options for pets five years or older
- No preventive care coverage
- Deductibles
- $100, $250, $500
- Reimbursement Options
- 70%, 80%, 90%
- Annual Limits
- Unlimited
Healthy Paws offers only a single pet insurance plan for both cats and dogs. Yet that lone plan is among only a handful of pet insurance policies that offer the option to pay vets directly, rather than having to pay upfront and await reimbursement.
Healthy Paws will pay for treatment of hip dysplasia, provided the pet didn’t show symptoms before coverage began or during the waiting period — 12 months for dogs enrolled before age six. For accidents and illnesses, the waiting period is a standard 15 days.
Healthy Paws offer three annual deductible options — $100, $250 and $500 — as well as three reimbursement rate options, 70%, 80% and 90%.
However, these coverage options will depend on your pet’s details. For example, the lowest deductible and highest reimbursement options are only available to pets under three years of age. And after age six, pets only qualify for 70% reimbursement and annual deductibles can exceed $500.
Best for Unlimited Coverage: Spot
Why we chose it: Pet owners looking for high reimbursement and annual coverage limits as well as coverage for generally-excluded items — including exam fees, supplements and prescription diets — will find Spot provides some great policy options, albeit at premiums slightly higher than the norm.
- No annual limits
- No upper age restriction
- Covers alternative care, therapeutic diets and supplements
- Exam fees are included
- Premiums are higher than average, especially for young pets
- No direct payment to vets
- Deductibles
- $100 - $1,000
- Reimbursement Options
- 70%, 80%, 90%
- Annual Limits
- $2,500 - Unlimited
Spot offers accident-only as well as accident and illness plans with reimbursement percentage options from 70% to 90% and annual deductibles from $100 to $1,000. Annual payment limits range from $2,500 to unlimited — a wider range than many pet insurers offer.
Spot also has two preventive care plan options you can add to any policy to cover such services as dental cleaning, spaying/neutering, and flea and heartworm prevention. And unlike some other insurers, the company covers exam fees related to covered conditions. It also covers behavioral issues, alternative therapies, microchipping, and prescription foods and dietary supplements to treat covered conditions.
Spot does not have an upper age limit for coverage and does not consider a condition pre-existing if your pet has been cured of it (without symptoms or treatment) for 180 days. Exceptions to this rule are cruciate ligament and knee conditions.
Best for Reimbursement Options: Figo
Why we chose it: While most insurers will reimburse you for up to 90% of covered claims, Figo is the only company we have researched that will reimburse up to 100% of veterinary bills under plans with an annual limit.
- Reimbursement option up to 100%
- Optional coverage for pet theft, burial expenses and more
- No upper age restriction
- One-day waiting period for accidents
- Won't cover genetic conditions for pets enrolled after 2 years of age
- Waiting periods vary by state
- Deductibles
- $100 - $750
- Reimbursement Options
- Up to 100%
- Annual Limits
- $5,000, $10,000, Unlimited
With Figo, you can choose between three annual benefit maximums — $5,000, $10,000 or unlimited — and annual deductibles ranging from $100 to $750. Those who choose a deductible of $500 or more under a plan with limited benefits may also choose a 100% reimbursement percentage, meaning you don’t pay anything for covered claims. However, the 100% reimbursement (or 0% coinsurance) option is not available for plans with unlimited benefits.
Figo’s plans automatically include coverage for alternative therapies and can be further customized with add-ons. These include an option that reimburses you for veterinary exam fees, and two wellness plan alternatives that cover dental and preventive care such as vaccines, microchips, deworming and prescription foods.
Pet parents looking for the highest level of protection may also opt for an extra care plan that covers up to $250 in cremation or burial expenses, advertising or reward money for lost pets, vacation cancellation due to a veterinary emergency, boarding fees, up to $150 for pet theft or straying and property damage liability of up to $10,000 per policy period.
Best for Low or No Deductible: Trupanion
Why we chose it: If you don’t have cash at hand to pay a high deductible — or any deductible at all — Trupanion is among the handful of companies that offer a $0 deductible option. This, coupled with the company’s direct payments mode, ensures your pet is treated for emergency services right away, even if you don’t have cash on hand to pay.
- Allows you to waive the deductible
- Pays veterinarians directly
- No lifetime payout limits
- Has a lifetime per-condition deductible and upper age limit
- Only offers one reimbursement option
- Longer-than-average waiting period for illnesses (30 days)
- Coverage for alternative therapies sold separately
- Deductibles
- $0 - $1,000
- Reimbursement Options
- 90%
- Annual Limits
- Unlimited
Trupanion offers a single policy for cats and dogs that pays 90% of covered claims with no lifetime limit or cap. You can choose a deductible amount between $0 and $1,000, which is more flexibility than most other pet insurance providers offer. You can get a policy directly through Trupanion, but State Farm also offers Trupanion policies through a partnership.
The ability to choose a low or no deductible coupled with the benefit of direct payments to vets makes Trupanion a great option for emergency care, especially for pet parents that can’t afford out-of-pocket costs. (Note, however, that the lower the deductible you choose, with any insurer, the higher the monthly premium, as a rule.)
Unlike other pet insurance companies, Trupanion’s deductible is on a per-condition basis, which means you would have to pay the deductible you chose each time your pet develops a new condition. Nevertheless, after you meet a deductible for a given condition, you don’t have to pay it again during your pet’s lifetime.
Another aspect to consider about Trupanion’s pet insurance policies is that they do not include coverage for routine care or alternative therapies like acupuncture, physical therapy or behavioral modification. You can get coverage for non-clinical procedures, but must purchase a separate rider to do so.
Trupanion also offers an assistance program rider for policyholders, which covers money for ads or rewards if your pet is lost, or for boarding fees, liability coverage, vacation cancellation costs and cremation or burial expenses.
Best for Genetic Conditions: ASPCA
Why we chose it: While some companies will not cover a pet for genetic or hereditary conditions if you enroll them past a certain age (two years, for example), the ASPCA has no such exclusion. You can enroll your pet at any age and begin coverage after the applicable waiting period of 14 days.
- Covers genetic conditions at any age, if not pre-existing
- No age restrictions for any pet
- Covers pre-existing conditions after 180 of remission
- One 14-day waiting period for accidents and illnesses
- Higher-than-average premiums
- Doesn't pay vets directly
- Deductibles
- $100, $250, $500
- Reimbursement Options
- 70%, 80%, 90%
- Annual Limits
- $3,000 - $10,000
The American Society for the Prevention of Cruelty to Animals (ASPCA) provides accident-only, accident and illness policies and preventive care coverage for cats and dogs. It also sells health insurance for horses in select states.
As ASPCA’s pet insurance policies are underwritten by the same insurance company as Spot’s plans, they offer the same great benefits, including coverage for behavioral issues, vet exam fees, alternative health therapies and prescription supplements and food. ASPCA also offers two preventive care plan options that cover everything from dental cleanings to annual checkups.
Unlike Spot, ASPCA offers only three deductible options — $100, $250, and $500 — and its reimbursement limits range from $3,000 per year to $10,000 There are no upper age restrictions under ASPCA, and pre-existing conditions are covered provided they have been in remission for 180 days or more.
Best for Diminishing Deductible: Embrace
Why we chose it: Embrace Pet Insurance is the only company on this list that offers a diminishing deductible benefit that shaves $50 off your deductible every year you go without filing a covered claim. It also has lower-than-average premium prices and a short waiting period for accidents.
- Diminishing deductible for every year without a claim
- Offers coverage for pre-existing conditions
- Shortest waiting period for accidents (48 hours)
- No unlimited reimbursement option
- Upper age limit for accident and illness coverage
- Deductibles
- $200 - $1,000
- Reimbursement Options
- 70%, 80%, 90%
- Annual Limits
- $5,000 - $30,000
Embrace offers several deductible options from $200 to $1,000 and reimbursement limits between $5,000 and $30,000 — no unlimited benefit option is available. Premiums are competitive and the company includes a diminishing deductible benefit that will take $50 off your deductible for every year you go without filing a covered claim.
Embrace will cover pets of up to 14 years of age for both accidents and illnesses. And unlike other companies, it also offers accident-only coverage for pets over the age of 14. Embrace’s policies also cover breed-specific and congenital conditions, pre-existing conditions that have been in remission for over a year and alternative therapies and rehabilitation.
Finally, while Embrace’s waiting period for illnesses is a standard 14 days, its period for accidents is just 48 hours — much shorter than the majority of competitors. This makes Embrace a solid option for budget-conscious pet owners looking for standard coverage — especially for accidents.
Best Claims Process: Lemonade
Why we chose it: Lemonade uses artificial intelligence to power its pet insurance claims process, which involves submitting a video explaining the reason for the vet visit and supporting documents for the treatment received. While other companies could take months to approve a claim, Lemonade says its claims process is intuitive and simple, and you can get reimbursed in just minutes.
- Fast claims processing
- Several discount options
- Shorter waiting period for accidents (2 days)
- Not available in all states
- Won't cover spaying/neutering for pets over 2 years of age
- Deductibles
- $100, $250, $500
- Reimbursement Options
- 70,%, 80%, 90%
- Annual Limits
- $5,000 - $10,000
Lemonade offers three reimbursement options from 70% to 90%, and will cover anywhere from $5,000 to $10,000 in benefits per year. It also has three annual deductible options to choose from: $100, $250 and $500. While these options are more limited than those of other companies, you can further customize your coverage with add-on policies.
Lemonade’s base pet insurance plan covers diagnostic tests (blood tests, urinalysis, x-rays, CT scans, etc.), procedures like specialty and emergency care, hospitalization and surgery, and prescription medications.
Besides its base coverage, Lemonade also sells an add-on that covers vet visit fees and two preventative care plan options at competitive prices. Coverage for physical therapy and alternative care is also sold separately for a low monthly cost, yet this is something many other insurers on this list include as part of their base coverage.
Besides its streamlined claims process, another one of Lemonade’s standout features is that it offers several ways to save on premiums. There are discounts available to those who bundle pet insurance with renters or homeowners insurance, insure multiple pets and pay annually instead of monthly.
While its premiums are on par with those of other competitors and coverage is fairly standard, Lemonade will not cover spaying or neutering for pets older than 2 years of age under any of its plans.
Best for Affordable Premiums: Pets Best
Why we chose it: Based on our research — and using the same pet profile and similar coverage options across companies — Pets Best is among the most affordable pet insurance providers offering comprehensive coverage. It’s also the only company on this list that offers coverage for prosthetic devices and wheelchairs.
- Covers prosthetics and wheelchairs
- Offers very affordable premiums
- Includes a 24/7 pet helpline
- No upper age limit
- Has a bilateral exclusion
- Doesn't cover parasite treatment
- Deductibles
- $50 - $1,000
- Reimbursement Options
- 70%, 80%, 90%
- Annual Limits
- $5,000, Unlimited
Pets Best offers accident-only and accident and illness policies as well as two wellness and preventive care plans. Deductible options with Pets Best range from $50 to $1,000, allowing for greater customization than most other companies on the market. As for reimbursement limits, there are only two options available: $5,000 or unlimited.
Pets Best’s accident and illness policy covers treatments and services few other insurers do, including treatment for dental illness, prosthetics and even euthanasia. Other add-ons are available to cover exam fees, physical rehabilitation, alternative therapy and prescription medication, as these are not included in the base plan.
Pets Best pays vets directly, has no upper age limit, and will also cover curable pre-existing conditions such as bruises, sprains and upper respiratory infections. However, coverage for testing, treatment or prevention of parasites is not covered under any plan.
Best for Industry Experience: Nationwide
Why we chose it: Nationwide is one of the largest and most established insurance carriers in the U.S. The company earns an A+ rating for financial stability from AM Best, an independent organization that evaluates insurance companies.
- A+ rated by AM Best
- Offers competitive rates with plans starting at $35 per month
- Allows you to use any vet
- Offers a 5% multi-pet discount
- Only offers one deductible option ($250 for every pet)
- Has low maximum coverage limits
- Sets limits for individual conditions
- Only offers two reimbursement levels (50% and 70%)
- Deductibles
- $250
- Reimbursement Options
- 50%, 70%
- Annual Limits
- $10,000 with the whole pet plan, per condition limits for other plans
Nationwide offers a wide range of insurance options from car to pet insurance. You can bundle all your insurance products under one company. One of the benefits to Nationwide is that it allows pet owners to use any vet, anywhere — including specialists and emergency vet facilities.
You can choose from three plan options: whole pet, major medical or pet wellness. The whole pet plan offers more coverage than the major medical plan, and it reimburses you based on your pet’s covered treatment costs. Major medical has a set maximum coverage amount for each condition your pet develops. The pet wellness plan covers routine services.
Nationwide offers pet owners fewer choices than other insurers when it comes to the details, however. All of its three plans come with a $250 annual deductible. While some pet owners appreciate a lower deductible because it means lower out of pocket expenses, others choose a higher deductible in order to lower overall policy costs. Nationwide also only offers two levels of reimbursement — 50% and 70%. Many insurers offer 70%, 80%, 90% and even 100% reimbursement options.
Best for High-Deductible Plans: MetLife
Why we chose it: MetLife offers customizable pet insurance plans with an option to choose a high deductible. The plan with the highest coverage limit ($10,000) and highest deductible ($2,500) offers some of the lowest premium prices available.
- Offers a high deductible option
- Offers discounts
- Doesn't impose lifetime or per-incident limits
- Offers family plans to cover all pets under one policy
- Doesn't have an upper age limit
- Has few coverage limits options
- Doesn't offer an unlimited coverage plan
- Deductibles
- $50, $100, $250, $500, $2500
- Reimbursement Options
- 70%, 80%, 90%
- Annual Limits
- $2000, $5000, $10,000
MetLife stands out among other pet insurers by offering a high deductible option of $2,500. (Deductibles for pet insurance usually range from $100 to $1,000.) Choosing a higher deductible can help lower the monthly cost of your pet insurance policy, but keep in mind that you’ll be responsible for paying that deductible before coverage kicks in.
MetLife offers a few discounts, including 10% off for animal care workers, military members and veterans, first responders and healthcare workers. You can also get a discount just by purchasing your policy online.
Unlike some other pet insurance companies, MetLife doesn’t have an upper age limit on coverage, meaning you can get coverage for your senior dog or cat. A lot of companies set this limit at 10 years old for any new policies. MetLife also doesn’t have lifetime or per-incident coverage limits — it offers annual limits but doesn’t restrict coverage per condition or incident.
Best Wellness-Only Plan: Banfield
Why we chose it: Banfield is a unique option for pet owners seeking packages for wellness services only, rather than adding that coverage as a supplement to traditional pet insurance. If you don’t feel you need coverage for accidents and illnesses, the company may offer an affordable solution for you to receive coverage on preventative care.
- Offers preventive care packages
- 24/7 support via VetChat
- Offers virtual visit coverage
- Unlimited office visits included
- Many eligible vet office locations across the U.S.
- No waiting periods
- Isn't insurance — doesn't cover accidents and illnesses
- Only works at Banfield Pet Hospitals
- Some services are add-ons for an extra cost
- Deductibles
- None
- Reimbursement Options
- Discounts on services only
- Annual Limits:Not Specified
- including wellness exams, vaccinations, parasite control, dental, nutrition, and behavioral consultations
Banfield is not a traditional pet insurance company. Instead, Banfield Pet Hospital’s Optimum Wellness Plans are essentially memberships that help pet owners pay for their pet’s routine care. You pay a monthly fee that includes various wellness care services, including wellness exams, vaccinations and parasite control. It allows you to break up the cost of your pet’s medical care and give you access to a vet whenever you need it since it includes unlimited vet visits.
While it may cover some diagnostic procedures, a Banfield plan doesn’t cover the cost of treating accidents and illnesses like pet insurance. To take advantage of its plan benefits, you must visit one of Banfield’s facilities. You don’t get to choose your veterinarian, but you can choose your Banfield location. If you decide to treat your pet for an accident or illness, the company offers a discount on services rendered by vets in its network.
Pet Insurance Guide
The following guide contains information on what pet insurance covers, how it works and whether or not buying a pet insurance plan makes financial sense.
What does pet insurance cover?
Pet insurance is an insurance policy you can purchase for a family pet — mostly dogs and cats but some exotic pets as well — to cover vet bills related to unforeseen illnesses and accidents.
It must be noted that most pet insurance plans exclude preventative or routine care from basic coverage. Wellness policies that cover preventative care are sold separately and will generally pay for services that maintain or preserve the health of your pet, provided they have no underlying associated medical condition.
How pet insurance works
Unlike human health insurance, most pet insurance policies don’t have network restrictions and can be used to cover expenses incurred at any licensed veterinary office or hospital.
Most policies work on a reimbursement model, however, so you must pay covered expenses out of pocket and then submit your receipts to get reimbursed.
Other important coverage details include:
- Exclusions: Pre-existing medical conditions, meaning those that developed before coverage began, are the most common exclusion in pet insurance plans. Hereditary or breed-specific conditions such as hip dysplasia are typically only covered if your pet did not present symptoms before coverage kicked in. Other specific conditions and services may be excluded, so read your policy thoroughly.
- Waiting periods: After enrollment, most pet insurance policies have waiting periods for accidents, illnesses and even orthopedic conditions like torn cruciate ligaments and hip dysplasia. During the waiting period, you are not eligible for reimbursement of vet bills related to the accident, illness or condition.
- Reimbursements and payout limits: Pet insurance policies will typically reimburse you for 70% to 90% of covered claims. There may also be annual, per-incident or per-lifetime maximum payout limits after which the policy will not cover specific accidents or illnesses.
- Physical examination: All companies have minimum and maximum age limits for coverage. If your pet is very young or very old, some companies will require your pet to undergo a physical examination before you can enroll them in coverage.
Types of pet insurance plans
Pet insurance plans vary in price and extent of coverage. If you’re not sure how to buy pet insurance or feel overwhelmed by all the options, understanding what each plan type generally covers can help.
- Accident-only policies: Accident-only plans cover only unforeseen mishaps and accidents such as broken bones. Since coverage is limited, these policies can cost up to 60% less than accident and illness policies.
- Accident & Illness policies: As the name suggests, accident and illness policies cover unforeseen accidents, injuries and illnesses. Some policies may also cover the cost of medications, emergency care, exam fees, surgery and alternative medicine such as acupuncture and chiropractic care.
- Wellness coverage: Again, wellness coverage is an optional add-on you can purchase to cover routine care only, including microchipping, deworming, vaccinations, annual wellness exam fees, spaying and neutering and dental care, among other expenses
- Comprehensive policies: Comprehensive policies cover accidents and illnesses as well as routine care. As these policies offer the broadest coverage, they are also the most expensive.
How to choose the right pet insurance company
The best way to choose the right pet insurance company is to compare multiple policies before making a decision. Look for a plan that offers the coverage options and features you need for the most affordable cost.
Consider the customizable options each pet insurer offers so you can get the plan your pet — and your budget — needs. Be sure to closely examine each policy’s exclusions, especially those related to pre-existing conditions.
Another thing to consider is the company’s claim filing process. Some insurers offer a mobile app that makes filing claims easier. Some also allow your veterinarian to file claims for you and get paid directly, rather than you paying the vet bills and getting reimbursed.
Before purchasing a pet insurance policy, get at least three quotes from different insurers, making sure to compare both coverage and premiums. Some insurers also provide sample policies that list coverage details and exclusions.
How much is pet insurance?
The premiums for an accident and illness policy can cost between $30 and $50 per month or $300 to $600 or so a year, according to data from the North American Pet Health Insurance Association (NAPHIA).
However, actual pet insurance costs will depend on your pet’s species, age and breed, the type and level of coverage you select, and the insurance company you do business with, among other factors. Keep in mind, too, that policies almost invariably come with deductibles and co-pays that will add costs above those for premiums.
What factors affect the cost of pet insurance?
The following are some of the factors that affect pet insurance rates:
- Species, age and breed: Coverage for dogs is generally more expensive than coverage for cats. And, of course, the older your pet is, the higher their likelihood of developing health conditions, so policies for older pets tend to be more expensive. Finally, if your pet’s breed is prone to a genetic, hereditary or chronic condition, your premium will reflect that risk.
- Location: Pet insurance rates are typically higher in large cities and urban areas where veterinary care is more expensive.
- Deductible amount: Most pet insurance plans have annual or per-incident deductibles you must meet before coverage begins. As with other types of insurance, the higher your deductible amount, the lower your premium.
- Copays: Your copayment is the percentage you will pay toward covered veterinary services after meeting the deductible. For example, if your plan reimburses you for 80% of covered claims, your copayment is 20%. Because you’re taking on more of the risk, the higher your copayment percentage, the lower your premium.
- Coverage limits: The higher your coverage limit, the more expensive the policy. This is because higher coverage limits mean more potential expenses for the insurer.
Is buying pet insurance a good idea?
Pet insurance is a hedge against veterinary expenses stemming from sudden mishaps and diseases. Like other forms of insurance, it can provide pet parents great peace of mind knowing they’re prepared against the unexpected.
That said, this reassurance comes at a relatively high price — including thousands of dollars in premiums alone over a pet’s lifetime. Money’s research suggests that pet insurance is likely to pay off only in the unlikely event your animal develops a serious, ongoing condition or has an accident that requires major surgery.
Also, keep in mind that pet insurance rates increase as your pet ages, so it makes the most sense to get a pet insurance policy while your pet is young and healthy.
Pet Insurance FAQ
Does pet insurance start immediately?
Pet insurance typically has a waiting period before coverage begins, which protects the company from fraudulent claims. While the length of the waiting period varies by insurer and type of coverage, accident coverage generally starts sooner — sometimes even two days after enrollment — while illness coverage may take up to 15 days to kick in. Some insurers have additional waiting periods for specific conditions (such as hip dysplasia) that may last up to a year.
How do you file a claim against pet insurance?
Most pet insurance companies offer the option of filing claims online, through mobile app or by mail — the process varies by company. If you have a reimbursement plan, you will pay your vet bill, submit your claim with supporting documents needed and wait for approval. Pet insurance companies usually require you to fill out a form and include an itemized invoice to support your claim. You may also need to submit your pet's medical record.
If your insurer pays your veterinarian directly (rather than reimbursing you), your vet may file the claim.
What is a deductible in pet insurance?
A deductible is the initial amount of money policyholders are responsible for paying before coverage kicks in. You must meet your deductible before an insurer will reimburse you for any of your claims. Deductibles are part of most pet insurance plans, though a few companies do offer no-deductible plans. In addition, most insurers allow you to customize your deductible. Deductible choices usually range from $100 to $1000. High-deductible plans generally cost less than low-deductible plans.
Can you cover multiple pets under one insurance policy?
You can get pet insurance for multiple pets either under one insurance policy or separate policies, depending on what your insurer offers. You would be able to customize each pet's coverage — for example you could purchase accident only coverage for one pet and a combination of accident and illness coverage for another. Some companies offer a discount in the neighborhood of 5% to 10% when you insure multiple pets.
How We Found the Best Pet Insurance Companies
To find the best pet insurance companies, we took an in-depth look at the following factors:
- Coverage options
- Inclusions and exclusions
- Deductible amounts
- Waiting periods
- Reimbursement rates
Summary of Best Pet Insurance Companies
- Healthy Paws – Best for Alternative Care
- Spot – Best for Unlimited Coverage
- Figo – Best for Reimbursement Options
- Trupanion – Best for Low or No Deductible
- ASPCA – Best for Genetic Conditions
- Embrace – Best for Diminishing Deductible
- Lemonade – Best Claims Process
- Pets Best – Best for Affordable Premiums
- Nationwide – Best for Industry Experience
- MetLife – Best for High-Deductible Plans
- Banfield – Best for Wellness-Only Plan
Joan is a professional translator, writer and editor with a special interest in personal finance and insurance topics. She has been a contributing author and independent researcher at ConsumersAdvocate.org since 2017 and an editor at Money since 2019. Her work has been featured in MSN Money and Apple News.